Two-Family Duplex with
New
For Sale
$585,000
59 Horton St, Stamford, CT 06902
Two-bedroom units feature separate gas and electric meters for distinct utility service.
Property Size1,625 SF
Days on Market4
Property Features for 59 Horton St
General Information
Standard status
Active
Size
1,625 SF
Total Parking Spaces
1
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Building Size
1,625 SF
Year Built
1928
Listing Agency:
RE/MAX Right Choice
Listed By:
Chris Carozza · License #RES.0768259
(203) 912-6819
Source:
Elliman
Added: Sep 12
Changed: Sep 13
Last Checked: Sep 15 at 8:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Right Choice
Investment Insights
Based on property information with market context.
Built in 1928, this duplex contains two residential units, each configured with two bedrooms and one full bathroom. Separate gas and electric meters serve the units individually. The property also includes a walkout basement and a one-car garage, adding storage and functional support space.
The home is positioned near Cove Island Park, beaches, shopping, restaurants, downtown Stamford, Metro-North, and I-95. Transit access is reflected in a transit score of 62, while the walk score is 88 and the bike score is 47. Located at 59 Horton St in Stamford, the property offers a two-unit layout with established neighborhood access and practical existing features.
The home is positioned near Cove Island Park, beaches, shopping, restaurants, downtown Stamford, Metro-North, and I-95. Transit access is reflected in a transit score of 62, while the walk score is 88 and the bike score is 47. Located at 59 Horton St in Stamford, the property offers a two-unit layout with established neighborhood access and practical existing features.
Key Highlights
- Two‑unit duplex at 59 Horton St, Stamford, CT 06902
- Each unit includes 2 bedrooms and 1 full bathroom
- Separate gas and electric meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,269
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$625,380
$625.4K
Cap Rate 7%
$446,700
$446.7K
Cap Rate 9%
$347,433
$347.4K
Market Conditions
NOI Build-Up for 1,625 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$47.8K $29.40/SF
− Vacancy
−$3.1K −$1.91/SF
EGI
$44.7K $27.49/SF
− OpEx
−$13.4K −$8.25/SF
NOI
$31.3K $19.24/SF
Area
Stamford, CT
Vacancy
6.50%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$625,380
Cap Rate 7%
$446,700
Cap Rate 9%
$347,433
Alternative Uses
Best Use
Multifamily LT 5
$446.7K
$390.9K – $521.2K
NOI $31,269 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$399.5K
$349.6K – $466.1K
NOI $27,967 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$587.6K
$514.1K – $685.5K
NOI $41,129 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
Explore this area
Business Placement
Demographics for 06902, CT
69,192
Population
30,142
Households
2.3
Avg Household Size
36
Median Age
44%
College-Educated
85%
High-School Grad
10.0 sq mi
ZIP Area
6,919
Density / Sq Mi
$92,527
Median Household Income
$48,285
Median Earnings
$2,139
Median Rent
$515,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units feature separate gas and electric meters for distinct utility service.
Where is this duplex located?
The property is located at 59 Horton St Stamford, CT.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Two‑unit duplex at 59 Horton St, Stamford, CT 06902; Each unit includes 2 bedrooms and 1 full bathroom; Separate gas and electric meters for each unit
